ST Huan: 65% equity of the holding subsidiary was judicially auctioned with a transaction price of 55.31 million yuan.

*ST Huan Announcement stated that the 65% equity of Hengyang Sande Kai Tian Renewable Resource Technology Co., Ltd. held by the company was publicly auctioned on the Taobao online judicial auction platform on May 23-24, 2026, and was won by Shandong Zijian Group Co., Ltd. for 55.3157 million yuan. Hengyang Kai Tian's revenue in 2025 was 27.9984 million yuan, with a net profit of 9.9868 million yuan. There are uncertainties in the follow-up processes involving the payment of the remaining amount, equity transfer, changes in registration, and other aspects. If the procedures are completed, Hengyang Kai Tian will no longer be included in the company's consolidated financial statements.